WWE NXT's Cameron Grimes Confirms Investing In Gamestop Made Him A Millionaire
Taking the cash to the moon!
Back in January 2021, investors on the Reddit group r/wallstreetbets started buying shares in Gamestop (GME), causing the video game retailer's stock to dramatically increase from $19 at the beginning of the month to highs of $347. As many hedge funds and investment funds had engaged in short-selling of Gamestop stock, they ended up losing millions or billions of dollars. On the other side of that, people who invested in Gamestop before the price skyrocketed made a whole heap of money.
The Gamestop Short Squeeze entered the professional wrestling world shortly after as Cameron Grimes returned to NXT as a new version of the million-dollar man and told the audience he had made vast quantities of money investing in GME stock and Dogecoin.
Now, Grimes has revealed on After The Bell that the gimmick was inspired by real life. He noted he started looking into the stock market because of low-interest rates on savings accounts and ended up investing in Gamestop. By the time the short squeeze was settling down, The Technical Savage was a millionaire.
"Interest rate on your savings account is just awful," Grimes said. "Like, you have to have $1000 to make one penny, and I was making money but I wasn't making enough money to make money off my interest. So then my friends were starting to get into the stock market as well. So it was like, 'Well, this is interesting.' And Barstool Sports was becoming publicly traded so I said, 'This is day one that they're opening.' So I felt like I was getting a deal getting something day one.
"And all of a sudden I'm looking at stock videos on YouTube like I was watching Ring Of Honor in 2008. Like, I was into it. And then, you know, I got lucky and Gamestop and all these things kind of blew up and next thing you know I'm a millionaire."